We know that closing your business, or the decision to no longer employ others is a daunting one. In this article we give you three easy steps to follow to ensure that you complete your IRD and payroll obligations.
Updated: Dec 2022
In this article
Before you start
Before starting this process, you will need the following:
- The hours your employees have worked each day for the last pay period
- A record of any leave taken in that time
- A record of any alternative leave days owing your employees
- IR913 form or access to your business MyIR account
Step 1: Do your final pay run
Creating a final pay run for all of your employees will calculate any leave owing them, to be paid out in this final pay. It will archive their employee profiles in Thankyou Payroll and will inform IRD that their employment with you has ended.
Things to check during this final pay run:
- Set up the final timesheets
- Check each employee's leave liability
- Payout any alternative leave days owing them
- Check the results are correct
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Reminder: If you need a quick refresher on exactly how to do this,
the Creating a Final Pay article will take you through this process, step by step.
Step 2: Remove Thankyou Payroll as the PAYE intermediary
After your final pay has run, you need to delink Thankyou Payroll as your PAYE intermediary from your EMP/Payroll tax account. This means we can no longer act on your behalf to fulfill tax obligations or do payday filing on your behalf.
Pro tip: We recommend that you only complete Step 2 after you have run your final pay. We still need to do pay day filing and PAYE payment for this final pay run.
To delink your account from Thankyou Payroll at the IRD, you have two options:
Delinking option 1: Through the post
You have to download and complete the IR913 form and return it to IRD via the post. Send the completed form to the postal address supplied on the IR913 form. Ensure you check the box No, in question 8 - this closes your EMP account and IRD will no longer police this for returns/payment.
Download 🔗 the IR913 form here.
Delinking option 2: Online, through your business MyIR account
You can do the delinking by signing into your MyIR account.
- Click More beside I want to
- Select Manage associate accounts/parties
- Find Thankyou Payroll and select View or Edit
- Click Modify relationship under I want to
- Select the employment account and tick the confirmation.
If you are unsure how to do this, follow 🔗 this link for instructions form the IRD website. Send a secure message in myIR requesting your EMP account be closed.
Step 3: Pay final fees owing
Thankyou Payroll will send you an invoice to settle any fees on your account after the 1st of the Month following your final pay run.
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Did you know: You will still have access to your Thankyou Payroll account after it has been closed, at no further cost to you.
You just won't be able to run any pays from this account.
Process complete. You've done it!
That is it. You have fulfilled your tax obligations and have successfully closed your account with Thankyou Payroll. We want to thank you for payrolling with us and wish you well as you make good thing happen on your next adventure.
What if things change? What if I want to reopen the business or employ again?
Reopening your Thankyou Payroll account is really simple. Just compete an 🔗 IR920 form found here and send it to us. We will reopen your account and continue taking care of your payroll while you continue making good things happen in your business. Simple.
Making payroll easy. Supporting you.